Ride-sharing app Ola has hit the jackpot with its largest fund raise to date, of $1.1 billion. Ola is also in advanced talks with other investors to close an additional $1 billion, concluding a total raise of $2.1 billion, as a part of the current financing round. This latest round was led by Chinese internet behemoth Tencent Holdings Ltd with participation from SoftBank and new US-based financial investors. The fresh funding will be used to make investments in supply, technology and cutting-edge innovations that will take the company closer to its vision of providing mobility to a billion people.

(The Hindu)